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The stablecoin issuer, Paxos, has received approval from a New York regulator to expand its stablecoin issuing service into the Solana Blockchain. Previously, the firm was only limited to the Ethereum blockchain. Quick Take: Paxos will now launch its USDP stablecoin on the Solana blockchain. The projected date of launch is January 17, 2024. Even
Afroz Ahmad
Recent reports suggest that the SEC has held a joint conference call with all applicants of Bitcoin Spot ETF. The experts have described this development as a rare joint conference call. Also, they have highlighted how this is still a developing story. Quick Take Analysts throughout the crypto market believe that the decision regarding the
Afroz Ahmad
The international governing body of the most played global sports, FIFA, is launching a new NFT collection later this week. The collection will be launched in collaboration with the blockchain firm Modex. Quick Take: As per the announcement, FIFA will release a 100 NFT collection on December 15, ahead of the 2023 Club World Cup
Afroz Ahmad
The CEO and founder of Binance, Changpeng Zhao, recently pleaded guilty to charges of money laundering. In a recent development, US District Judge Richard Jones ordered him to stay within the country until sentencing. Quick Take The US District Court for the Western District of Washington in Seattle has accepted CZ’s plea revolving around money
Afroz Ahmad
BlackRock, the largest asset manager in the world, has recently submitted an updated version of its spot BTC ETF application to the SEC. The largest crypto index fund manager, Bitwise, also took similar action but had submitted an updated application an hour before BlackRock did. Quick Take: Analysts throughout the crypto market believe that the
Afroz Ahmad
Robinhood has reported a staggering 75% surge in the overall trading volumes of digital assets in November 2023. The recent form 8-K filing to the SEC highlighted that the November Crypto Notional Trading Volumes were approximately 75% above the levels seen in October 2023. Quick Take Analysts in the crypto market suggest that the activity
Afroz Ahmad
Through its recent announcement, Coinbase has expressed plans to launch MATIC and Bitcoin Cash perpetual futures contracts on both Coinbase International Exchange and Coinbase Advanced. The analysts have pointed out that the move follows a surge in trading volumes. Quick Take: It would become possible for users to begin trading MATIC-PERP and BCH-PERP contracts on
Afroz Ahmad
The uncertainty hovering around the future of Sam Altman has come to an end as he has officially returned as the CEO of OpenAI. Along with this, the firm has come up with a new board of directors and has replaced most members of the previous board who ousted Altman a few days ago. Quick
Afroz Ahmad
Coinbase seems to be enjoying the regulatory crackdown on its rival exchange, Binance. The Coinbase stock (COIN) has reached its highest point since May 5, 2022. Quick Take: As Binance continues to struggle with legal complications, Coinbase is looking to regain its position as the leader in the cryptocurrency space. The former CEO of Binance,
Afroz Ahmad
The cryptocurrency exchange, Bybit has come up with a rewards program to invite holders of other crypto cards. The platform looks to onboard other crypto card holders through its program. Quick Take: As per initial details, the reward program will offer card bonuses of up to €25 to the first 10,000 users that switch to
Afroz Ahmad
The dYdX exchange has planned to unlock around $500 million worth of tokens in the platform’s first prominent token unlock event. The number of tokens accounts for 30% of the total token supply. Quick Take: The crypto industry is reaching the season of token unlocks, as many platforms have announced their token unlock events in
Afroz Ahmad
The HTX Exchange, previously known as Huobi Global, has claimed that it has properly handled the hacking attempt on its platform. Moreover, the exchange said that it would resume deposits and withdrawals within 24 hours. Quick Take: As per reports, HTX was exploited for around $30 million. The value of the exploit saw a major
Afroz Ahmad
The decentralized exchange, KyberSwap has been compromised for around $46 million across multiple blockchains in a concerning development within the DeFi space. The increasing number of hacks in the DeFi world has continued to bother the crypto community. Quick Take: As per the update given by KyberSwap, the hacking attempt was aimed at KyberSwap Elastic.
Afroz Ahmad
In a November 21 press conference, the officials of the US Government have slammed Binance and its CEO, Changpeng Zhao. The officials also reached a historic settlement with the exchange to pay $4.3 billion in penalties and forfeiture, with CZ pleading guilty to one of the charges laid against him. Quick Take: The world’s largest
Afroz Ahmad
The United States Securities and Exchange Commission (SEC) has continued to target crypto platforms over regulatory concerns. This time around, the authority has alleged that Kraken is an unregistered exchange, broker, dealer, and clearing agency that mixes its funds with customers’ assets. Quick Take: The US SEC has sued one of the largest global cryptocurrency
Afroz Ahmad
In a recent development, an NFT wallet app, Backpack has announced new additions to its plans for a new cryptocurrency exchange in Dubai. The announcement has led to a mammoth increase in the valuation of Solana’s Mad Lads NFTs. Quick Take: The Backpack wallet app is based on Solana which has led to the price
Afroz Ahmad
Is it all over for Hodlnaut? The crypto lender is apparently reaching the end of the road as the High Court of Singapore ended judicial management and ordered its liquidation. Quick Take: Hodlnaut has failed its restructuring plan as judiciary managers Aaron Loh Cheng Lee and Ee Meng Yen Angela look set to liquidate the
Afroz Ahmad
The founder and CEO of Roblox, David Baszucki is dreaming of achieving in-game moving non-fungible tokens (NFTs) and digital objects. He also expects celebrities and prominent brands to help him achieve the goal. Quick Take: The CEO of the renowned virtual universe game Roblox wants NFTs to move across multiple platforms. He shared his views
Afroz Ahmad
Crypto analysts and experts have recently commented that there is an eight-day window between November 9 and November 17 for the approval of all spot Bitcoin ETF filings by the Securities and Exchange Commission (SEC). Quick Take: Crypto analysts James Seyffart and Eric Balchunas have commented that there is a brief window for the approval
Afroz Ahmad
The BRC-20 token, Ordinals (ORDI) has seen a significant surge in its price following the announcement of listing on the Binance exchange. The exchange listed ORDI pairs with USDT, BTC, and the Turkish Lira. Quick Take: Every emerging token gets a major boost if it is listed on a renowned cryptocurrency exchange, such as Binance.
Afroz Ahmad
Moody’s Analytics has come up with a new stablecoin service that will make use of AI to predict any possible stablecoin depegs. The tool will use machine learning and other indicators to review stablecoins and make a prediction about their short-term future performance. Quick Take: As per the report released by Moody’s Analytics, the AI
Afroz Ahmad
OpenSea is one of the most prominent NFT marketplaces in the crypto and web3 landscape. However, in a rather surprising move, the platform has announced that it is laying off half of its employees. Quick Take: The news of reducing the employee headcount by 50% was confirmed by the co-founder and CEO of OpenSea, Devin
Afroz Ahmad
The governing body of the AragonOS DAO-creation will now close its operations. The tool will transfer a major chunk of its assets to the token holders of the Aragon platform. Quick Take: As per the official blog post, the team behind one of the oldest projects in the crypto space has opted for a reset.
Afroz Ahmad
The leading cryptocurrency exchange in the United States, Coinbase has come up with new trading features for retail traders. This move will enable small-scale retail traders to trade in crypto futures. Quick Take: As per the announcement of the exchange, the company is now allowing eligible US traders to access crypto futures through Coinbase Financial
Afroz Ahmad
